Hi All,Last week on the weekend charting thread (not sure if...

Hi All,

Last week on the weekend charting thread (not sure if anyone copied the link into the SBL thread?) I was discussing how the stock would come back to test 3.9cents as support and it did that nicely this week. Now, whether or not this price is the bottom or if it will test 3.5cents is a little bit hard to predict. Market sentiment is looking a bit tipsy-turvy at the present time, and how the global investors as a whole react this week will ultimately dictate if you get a chance for a top up at low prices. However looking ahead, the much anticipated 'gold pour' announcement is around the corner, and this would be the ideal catalyst for a strong move to new all time highs. I have a target of around 5.8cents using some fibonacci projections so it will be interesting to see how that plays out over the next few months.





A look at the indicators shows that buyers are gearing up for another move upwards, but having said that, the money flow does look a bit toppish and is breaking down through the 80 level. Keep an eye on it to see if it will diverge back up off the highlighted trendline. Low volume last week was a good sign that most holders are hanging in there for bigger and better things.





Ultimately this week could see a bit more sideways action, or it could be the beginning of another leg up, it's a bit hard to tell from where I see things. Either way, I would be confident of the price cracking into the 5cent range over the next few months provided the project comes up trumps and SBL can begin making cash rather than spending it.

Enjoy your afternoon!

Regards, 5hareholder.